| MPF Volumes Exceed Goals in 2011 |
The MPF Program continued to grow in 2011. PFIs across the country funded more than 45,000 loans totaling almost $7 billion. Of the 672 funding PFIs, 628 were community banks, thrifts, and credit unions with less than $1.040 billion in total assets.
“We far exceeded our funding goals in 2011,” said Eric Schambow, Senior Vice President and Director of the MPF Program. “PFIs worked with their local borrowers to match them with the right mortgages for their financial circumstances. It shows that the MPF Program really does help the small and mid-size lenders who originate small pools of loans. It allows them to compete on a more level playing field, and we are extremely pleased.”
Note: The 2011 financial results discussed in this newsletter are preliminary and unaudited. | |
